12 Sep '13, 8pm

Coming Soon: Bitcoin ATMs: An easy way to convert the virtual currency to cash

The Silk Road, an online black market exchange for contraband goods, like illicit drugs, operates on Bitcoin, and law enforcement officials have expressed concern about the use of the currency to facilitate this and other illegal activity, including money laundering. The Bitcoin ATM may not raise those concerns because it actually rolls back some of the anonymity that, in part, made the currency famous. Robocoin’s systems will request a government issued ID from the user, use facial recognition software to match a photo of them taken at the machine to that on the license, and use a palm scanner to further authenticate the user’s identity.

Full article: http://business.time.com/2013/09/12/coming-soon-to-americ...

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